Masters in Business Management

The field of business management focuses on implementing various administrative methods to boost productivity, drive sales and increase profitability in an organization. Business management degrees are some of the most popular degrees of all time, and can be applied towards virtually any industry, or even help you start your own business or franchise. Business Management professionals control the operational areas such as product acquisition, production, marketing, finance and general administration. Business management is perhaps the only field in the world which, since its inception, has maintained a positive rate of growth, creating endless career opportunities for people around the world.

  1. What is business management?
  2. What are the future prospects?
  3. Types of Masters in Business Management
  4. Areas of Concentration

What is business management?

The Master of Business Management is a two-year long graduate level degree that can be completed through on-campus or online settings. In order to enroll in this degree, applicants must have a bachelor’s degree in a management related concentration, in addition to having some relevant work experience. The core curriculum includes courses such as business communications, financial management, management information systems, business law, leadership and resource management.
Students must then take courses in an area of specialization such as human resources, international trade, marketing, or strategic development.

What are the future prospects?

According to the US Bureau of Labor Statistics (BLS), the demand for business management professionals will increase by 25% through 2018. Add this phenomenal growth rate to the endless list of career opportunities at government organizations, financial institutions, marketing companies and other private businesses, and you have a winning combination. In view of these facts, the Master of Business Management degree has become one of the most popular degrees around the world, and is your sure key to success.

Types of Masters in Business Management

Graduate programs in business management are offered in three types of degrees:

  • MSc in Business Management – These programs are designed for students who want to enhance their knowledge on a more scientific level after completing their undergraduate education. These programs focus primarily on theory as opposed to practical training; however, students may be offered hands-on training opportunities and are required to complete an internship, enabling them to gain practical exposure.
  • MA in Business Management – These graduate programs are primarily for those with non-business undergraduate background.  MA in Business Management program includes liberal arts courses such as literature, history and philosophy, as part of the curriculum.
  • Master of Business Administration – This program is specifically designed for those seeking career advancement in the field of management. MBA offers management education aiming to equip students with the required knowledge and skills to perform efficiently in managerial positions.

Enrollment Trends in Masters of Business Programs

Absolute Annual Enrollments

Degree Enrollment for Business Masters

Absolute Annual Enrollments: Enrollments in master degrees in business majors are gradually increasing, showing a 65.71% of growth within a time frame of 12 years.

Relative Annual Enrollments

Relative Enrollments for business master's degree Relative Annual Enrollments - Student Interest Level: The student interest level in enrolling in masters in business programs has increased by 4.09% from 2000 to 2012, averaging at 24.89% annually.

Areas of Concentration

Masters in business management programs broadly follow similar curricula, which include the following areas of concentration:

  • Business Management
  • Accounting
  • E-Business/E-Commerce
  • Entrepreneurship
  • Economics
  • Global Management
  • Finance
  • Human Resource Management

How long does it take to get a master’s in business management?

A master’s degree in business management can take up to 2 years to complete in most cases. Some accelerated programs might give you the option of completing the degree in 1.5 years or less. Some students may also spend longer due to personal time constraints.

What are the requirements to get a master’s in business management?

Even though the requirements to get into a master’s in business management vary from university to university, the general requirements are as follows. You will be required to have at least a bachelor’s degree and a minimum GPA of above 3.0. You will also need to submit your standardized test scores such as GMAT or GRE.

How much can I make with a master’s in business management?

According to the US Bureau of Labor Statistics, the median annual wage for careers in management was $104,240 as of May 2018. This is the highest wage of all the major occupational groups – therefore investing in a business management degree can be a wise decision.

Frequently Asked Question(s)

Q:Are there any scholarships for the Master of Business Management programs?

A:The Master of Business Management is offered on scholarships, financial aid and student loans. However, to be approved for scholarships you need to apply well before the deadline.

Q:What are some of the careers that I can pursue after masters in business management?

A:Master's in business management or MBA programs are designed for students who wish to polish their business skills and acquire expertise knowledge about the functioning of large multinational firms. Students with these advanced degrees can work as: Advertising Executive, Business Manager, Credit Analyst, Executive Recruiter, Financial Analyst, Human Resources Director or Manager and Product manager.

Q:Are there any specialization areas I can pursue in a masters degree in business management?

A:Yes, there are a number of areas you can choose to specialize in. Some of the most common specialization areas offered include the following: human resource management, accounting and finance, organizational behavior, entrepreneurship, marketing and promotion, and supply chain management. It is important to remember that the area you choose to specialize in will impact your job opportunities.

Q:How long will it take me to complete a masters of business administration degree?

A:The usual time taken to complete a master's degree in business administration is approximately two years. Students spend the first year gaining in-depth knowledge about advanced business concepts, developing analytical skills, and understanding administrative procedures. The last semester of the program is more research oriented and requires students to submit a research report.

Q:Tell me about masters degree in business administration?

A:A master's degree in business administration can train you for managerial and senior level positions. The degree takes almost two year to complete. It is a detailed course that covers administration subjects from all aspects. It may include study of business laws, finance administration, as well as human resource and project management.

Q:I am doing my own business, do u think a master in business management will help me?

A:If you are already into the business then you would have the practical knowledge. Having a professional degree can give you in depth studies on how to effectively manage different business process that make it more profitable. A master in business management degree can give a boost to your business career and will give you an edge.

Q:A master business management degree will cover what kinds of relevant subjects?

A:A masters degree in business management is an advanced graduate level program that is geared towards providing students with an in-depth understanding of this vast field. Students cover a range of subjects such as management principles, marketing concepts, resource planning, strategic planning, and more. The exact curriculum may vary from college to college.

Q:Should I go for a graduate degree in business or finance or management?

A:Choosing between business management or finance management should depend upon the career you wish to pursue, and your area of interest. If you are good with numbers and want to prep for a finance related career, you should opt for financial management as your main study field. However, if you want to work as a manager, it is recommended that you enroll in a business management degree.

Q:Can you tell me about the different courses offered in online masters in business intelligence?

A:The courses offered in online masters in business intelligence can vary according to different institutes which offer the program. However, some of the major courses include foundations for business intelligence, business analytics, concepts and practice of DSS modeling, database management theory and practice, enterprise data, business process modeling & analysis, introduction to data mining, critical performance management, predictive analytics, and management issues in business intelligence.

Q:Can you tell me about the different courses offered by online masters in management?

A:The courses offered in online masters in management can differ according to institutes which offer the program. However, some of the key courses include global economics, fundamentals of quantitative analysis, business ethics, sustainability and managerial accounting, strategic planning and innovation, critical evaluation of research and theory, and management strategy and innovation.

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